Regulatory Alerts2023-03-27
Added · Updated
Circular on the Publication of the MFSA’s FinTech Adoption Study
The Malta Financial Services Authority published a study assessing digital transformation and FinTech adoption among 390 authorized persons in the Maltese financial sector. The findings reveal that while slightly more than half of respondents are actively digitizing to improve efficiency and customer experience, most dedicate less than 25% of their IT budgets to these strategies. Key technologies adopted include cloud computing and APIs, with cyber risk identified as the primary concern despite an overall positive impact on financial stability.
Topics
infosec
open-banking
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